Reason #23,071 Why We Are In A Recession

Publishing companies think that a book by Rod Blagojevich would sell well enough to justify a six-figure contract.

Former Gov. Rod Blagojevich (D-Ill.) has landed a six-figure book, his book publisher announced Monday.

The former governor signed with independent publisher Phoenix Books. The exact terms of the deal were not disclosed, but the figure is significantly less than the amount paid for other major political memoirs, including one from Obama campaign manager David Plouffe, who landed more than $1 million for his book.

Somehow, I doubt the publisher is going to make its money back.

(link via Conor Clarke)

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Alex Knapp
About Alex Knapp
Alex Knapp is Associate Editor at Forbes for science and games. He was a longtime blogger elsewhere before joining the OTB team in June 2005 and contributed some 700 posts through January 2013. Follow him on Twitter @TheAlexKnapp.

Comments

  1. Bithead says:

    The question becomes whether not making their money back was ever the object in the first place. In looking at his recent record, one almost has to figure that Blagojevich does everything he does for reasons of political and monetary gain. One also gets the impression that he doesn’t see any differentiation between the two.

    On that basis, one might assume that the six figure salary for the book that nobody’s going to read is in fact political payback for something or another. I suspect if we look closely will find that the publisher in question, while Hollywood based, has some of it’s operations in Illinois.

  2. Alex Knapp says:

    I think that stupidity and poor business sense is a better explanation. Palin’s supposedly working on a nine-figure deal, which is just as economically unfeasible–politicians’ memoirs just don’t sell that well.

  3. Dantheman says:

    Alex,

    “a nine-figure deal”

    Assuming that all of those figures are to the left of the decimal point, it means she is getting $100 million + for her book. In order for it to make money, it means multiple tens of millions of copies need to be sold, approximately one per person voting for either major party ticket. I have trouble believing anyone seriously believes that to be the case.

  4. Alex Knapp says:

    Dantheman–my bad. I meant “eight-figure deal.” She’s looking to score $11 million for her book.